Axis Bank Magnus Credit Card
Rewards & Benefits
Welcome Benefits
Welcome Benefit: Customers can choose any voucher worth Rs 12,500 from options like Luxe gift card, The Postcard Hotels gift voucher, or Yatra gift voucher.
Milestone Benefits
None.
Cashback Rate
Users can earn 6 Axis Edge rewards points on every INR 100 spent up to spent of Rs. 1,50,000 in a calendar month.
The value of each point is INR 0.2. The effective cashback rate is 1.2%.
Users will get 17.5 Edge rewards points for every RS. 100 spent post spending Rs. 1,50,000 in a calendar month. Effective cashback rate: 3.5%.
5x reward points on spending via Travel EDGE.
Movie Benefits
None.
Dining Benefits
Upto 30% off on partner restaurants.
Other Benefits
.; Up to 15% off on international and domestic Oberoi and Trident Hotels.; The card also provides medical offers and benefits.
Lounge Access
Unlimited domestic lounge visits.
Unlimited international lounge visits and 4 additional guests visits per year.
Rewards & Benefits
Welcome Benefits
Welcome Benefit: Customers can choose any voucher worth Rs 12,500 from options like Luxe gift card, The Postcard Hotels gift voucher, or Yatra gift voucher.
Milestone Benefits
None.
Cashback Rate
Users can earn 6 Axis Edge rewards points on every INR 100 spent up to spent of Rs. 1,50,000 in a calendar month.
The value of each point is INR 0.2. The effective cashback rate is 1.2%.
Users will get 17.5 Edge rewards points for every RS. 100 spent post spending Rs. 1,50,000 in a calendar month. Effective cashback rate: 3.5%.
5x reward points on spending via Travel EDGE.
Movie Benefits
None.
Dining Benefits
Upto 30% off on partner restaurants.
Other Benefits
.; Up to 15% off on international and domestic Oberoi and Trident Hotels.; The card also provides medical offers and benefits.
Lounge Access
Unlimited domestic lounge visits.
Unlimited international lounge visits and 4 additional guests visits per year.
Fees & Charges
Joining Fee
Annual Fee
12,500 + taxes, waived off in case of spend of Rs.25 lakhs in the preceding year.
Cash Advance Fee
Cash Withdrawal Fee: INR 0
Interest rate
Interest rate: 3 % per month (42.58% per annum).
Late Payment Fee
Late Payment Fee: charged depending on the customer’s Total amount due; ranges from Rs. 0 - 1200.
Foreign Currency Transactions Fee
Forex Markup: 2%
Other Fees
Reward Redemption Fee: INR 0
Fees & Charges
Joining Fee
Annual Fee
12,500 + taxes, waived off in case of spend of Rs.25 lakhs in the preceding year.
Cash Advance Fee
2.5% or ?500 whichever is higher
Interest rate
Interest rate: 3 % per month (42.58% per annum).
Late Payment Fee
Late Payment Fee: charged depending on the customer’s Total amount due; ranges from Rs. 0 - 1200.
Foreign Currency Transactions Fee
Forex Markup: 2%
Other Fees
Reward Redemption Fee: INR 0
Special Features
Up to 15% off on international and domestic Oberoi and Trident Hotels.
Eligibility Criteria
Primary cardholder between age of 18 years and 70 years.
Add-on cardholder should be over 18 years.
Salary of Rs.18 Lakhs per annum or Annual Income Tax Return filed for Rs.18 Lakhs.
Resident of India
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
You can apply for the Axis Bank Magnus Credit Card online or offline. Here are the steps on how to apply online:
Go to the Axis Bank Credit Card website. Search for Magnus Credit Card.
Click on the "Apply Now" button.
Enter your personal details such as your name, email address, and mobile number.
Enter your income and employment details.
Upload a scanned copy of your PAN card and Aadhaar card.
Select the credit limit you want.
Click on the "Submit" button.
An Axis Bank representative will contact you to verify your details and complete the application process.
Contact Details
1865 419 5555 & 1860 500 5555
Account Opening and Procedure
Axis Bank Magnus Credit Card is a premium credit card from Axis Bank. It has a ton of value add features such as free movie tickets, complimentary domestic lounge visits, concierge service, zero cash withdrawal fee, etc. However, the biggest flaw with the card is that it has a very low cashback rate of 1.2%.
Axis Bank Magnus Credit Card is a premium credit card from Axis Bank. It has a ton of value add features such as free movie tickets, complimentary domestic lounge visits, concierge service, zero cash withdrawal fee, etc. However, the biggest flaw with the card is that it has a very low cashback rate of 1.2%.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai